AlphaCore Capital LLC Acquires 3,331 Shares of Unum Group (NYSE:UNM)

AlphaCore Capital LLC grew its stake in shares of Unum Group (NYSE:UNM) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,274 shares of the financial services provider’s stock after buying an additional 3,331 shares during the period. Unum Group makes up 1.3% of AlphaCore Capital LLC’s portfolio, making the stock its 14th biggest position. AlphaCore Capital LLC owned approximately 0.05% of Unum Group worth $5,901,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc grew its stake in shares of Unum Group by 361.5% in the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock valued at $26,000 after buying an additional 394 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Unum Group in the 2nd quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new position in Unum Group in the 3rd quarter valued at $31,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Unum Group during the 2nd quarter worth $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Unum Group in the third quarter worth $37,000. Institutional investors own 86.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on UNM shares. UBS Group raised shares of Unum Group to a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price objective on shares of Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $66.00 target price (up previously from $64.00) on shares of Unum Group in a report on Friday, September 27th. Evercore ISI raised Unum Group from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $67.00 to $84.00 in a report on Thursday, November 14th. Finally, Truist Financial lifted their target price on Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.73.

Insider Activity at Unum Group

In other Unum Group news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $69.56, for a total value of $104,340.00. Following the transaction, the chief accounting officer now owns 8,361 shares in the company, valued at approximately $581,591.16. This represents a 15.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hanley Ronald P. O sold 14,299 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $72.10, for a total value of $1,030,957.90. Following the sale, the director now owns 38,819 shares of the company’s stock, valued at approximately $2,798,849.90. This represents a 26.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,844 shares of company stock worth $5,411,032 in the last quarter. Company insiders own 0.93% of the company’s stock.

Unum Group Stock Up 4.1 %

Unum Group stock opened at $75.63 on Friday. The firm has a 50 day moving average price of $63.02 and a two-hundred day moving average price of $56.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28. Unum Group has a 52-week low of $41.97 and a 52-week high of $75.93. The firm has a market cap of $13.81 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 1.06 and a beta of 0.76.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.94 earnings per share. Equities analysts predict that Unum Group will post 8.53 EPS for the current year.

Unum Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 25th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.22%. Unum Group’s dividend payout ratio is currently 18.18%.

Unum Group declared that its board has authorized a share repurchase plan on Tuesday, July 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Unum Group Company Profile

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block segment. The company offers group long-term and short-term disability, group life, and accidental death and dismemberment products; supplemental and voluntary products, such as individual disability, voluntary benefits, and dental and vision products; and accident, sickness, disability, life, and cancer and critical illness products.